Is everyone in a fullblown panic because of coronavirus?

[El OchoCinco]

Trump going to shut down the government for 4 weeks.....should be coming any day now...

Corona can kiss my ass....I am more worried about Russia and Saudi fucking up my oil play.

let the market crash a bit, always followed by nice bull run...

 

[vanzandt]

Trump going to shut down the government for 4 weeks.....should be coming any day now...

Corona can kiss my ass....I am more worried about Russia and Saudi fucking up my oil play.

let the market crash a bit, always followed by nice bull run...

Yeah I think you might be putting too many eggs in one basket. You're just rolling the dice Ocho. I know you said its fun money but still. XOM is huge, stocks like that take the elevator down and crawl back up the steps. It's a crowded trade, and it'll get more crowded when oil reverses. Its just the way it works. USO, its basically the same as the 3X, it still deals with the costs of rollover and contango.

Honestly, and I know its not as fun, but I'd close USO and XOM and 1/2 of the 3X bull, keep the other half as lottery ticket. USO is gonna move the same percentage, and like I said, XOM is gonna take forever now, even after a reversal. Keep the rest of the money in the account, and just wait. Now's not the time I don't think. But the 3X could pay handsomely if you're nimble and get out soon.

 

[El OchoCinco]

Yeah I think you might be putting too many eggs in one basket. You're just rolling the dice Ocho. I know you said its fun money but still. XOM is huge, stocks like that take the elevator down and crawl back up the steps. It's a crowded trade, and it'll get more crowded when oil reverses. Its just the way it works. USO, its basically the same as the 3X, it still deals with the costs of rollover and contango.

Honestly, and I know its not as fun, but I'd close USO and XOM and 1/2 of the 3X bull, keep the other half as lottery ticket. USO is gonna move the same percentage, and like I said, XOM is gonna take forever now, even after a reversal. Keep the rest of the money in the account, and just wait. Now's not the time I don't think. But the 3X could pay handsomely if you're nimble and get out soon.

I have XOM, XOP and USO. All 3 are long term holdings that I can sit on for 6 months to a year. No way oil sits at this level. Go back ad look at all the other "crashes" to low levels with serious global recessions, they bounced back within 3 to 6 months to higher levels. These 3 are holdings until end of year as bonus money. XOM also pays a nice dividend so some minimal return for money that was in cash anyway.

OILU is the main lottery ticket. Even if it only jumps back to $5 to $7 still nice spending money.

The more buyers coming in after June is where I expect to make this back but getting in now during the panic when everyone is running for the exits will be a nice entry. I expect to take some heat but I can sit and wait.

 

[Wallet]

I just read, due to panic buying Walmart just opened register #3.

 

[Cuddles]

I have XOM, XOP and USO. All 3 are long term holdings that I can sit on for 6 months to a year. No way oil sits at this level. Go back ad look at all the other "crashes" to low levels with serious global recessions, they bounced back within 3 to 6 months to higher levels. These 3 are holdings until end of year as bonus money. XOM also pays a nice dividend so some minimal return for money that was in cash anyway.

OILU is the main lottery ticket. Even if it only jumps back to $5 to $7 still nice spending money.

The more buyers coming in after June is where I expect to make this back but getting in now during the panic when everyone is running for the exits will be a nice entry. I expect to take some heat but I can sit and wait.

crude futures tanking -7%

 

[vanzandt]

It was Trump's speech. He closed off Europe.
And mind you, he's doing a good job imo. The best that can be expected.
(incoming!)

Either way, its just the markets are spooked beyond belief now. This is serious shit.

 

[El OchoCinco]

crude futures tanking -7%

it is going to get a lot worse before it gets better......My target is Sept - December for the holidays.

 

[Cuddles]

It was Trump's speech. He closed off Europe.
And mind you, he's doing a good job imo. The best that can be expected.
(incoming!)

yes, spilled milk is always easy to put back in the jar

 

[Wallet]

crude futures tanking -7%

Too many unknowns atm, everything is in the wind, swung to extremes by panic. Commodities get tossed but can’t remain at extreme levels forever, supply/demand will eventually pull it in line.

 

[Cuddles]